Cladis Investment Advisory, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), Cladis Investment Advisory, LLC reported 154 stock positions worth $182.7 million. Its top holding was Apple (AAPL) at 8.3% of the portfolio, followed by Nvidia (NVDA, 4.9%) and Microsoft (MSFT, 2.9%). Compared with Q3 2025, it opened 16 new positions, sold out of 7, added to 38 and reduced 54. The biggest buy was a new position in Oracle (ORCL) and the biggest sale Dell Technologies -C (DELL, shares −36%).
- Most Recent 13F
- Q2 2026
- Location
- BILLINGS, MT
- CIK
- 0001911520
- Portfolio Value
- $182.7M (Q4 2025)
- SEC Filing
- 0001911520-26-000001 ↗ filed Feb 13, 2026
Holdings Value
Holdings 154 stocks · $182.7M
| AAPL Apple Inc. | 8.32% | 55,925 | $15.2M | Reduce -0.2% |
| NVDA Nvidia Corp. | 4.89% | 47,859 | $8.9M | Reduce -0.4% |
| MSFT Microsoft Corp. | 2.94% | 11,098 | $5.4M | Add +0.5% |
| LLY Eli Lilly & Co. | 2.74% | 4,652 | $5.0M | Reduce -0.1% |
| AMZN Amazon.com Inc. | 2.72% | 21,562 | $5.0M | Reduce -1.9% |
| GE General Electric filed as GE AEROSPACE | 2.72% | 16,104 | $5.0M | Reduce -6.9% |
| QQQ Invesco QQQ Trust Series 1 | 2.00% | 5,961 | $3.7M | No change |
| XLK SS Technology Select Sector | 1.85% | 23,477 | $3.4M | Reduce -0.6% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 1.82% | 11,221 | $3.3M | Reduce -6.5% |
| GEV GE Vernova Inc. | 1.76% | 5,044 | $3.2M | Reduce -2.4% |
| TSM Taiwan Semiconductor-SP ADR | 1.71% | 10,300 | $3.1M | No change |
| FIBK First Interstate Bancsys-A | 1.66% | 87,850 | $3.0M | Reduce -0.8% |
| COST Costco Wholesale Corp. | 1.55% | 3,273 | $2.8M | Add +25.3% |
| CAT Caterpillar Inc. | 1.51% | 4,800 | $2.7M | Reduce -4.0% |
| XOM Exxon Mobil Corp. | 1.43% | 21,636 | $2.6M | Add +0.5% |
| JPM JPMorgan Chase & Co. | 1.29% | 7,303 | $2.4M | No change |
| T AT&T Inc. | 1.24% | 91,160 | $2.3M | Add +0.0% |
| UPS United Parcel Service Class B | 1.22% | 22,538 | $2.2M | Reduce -19.3% |
| VZ Verizon Communications Inc. | 1.17% | 52,636 | $2.1M | Reduce -0.6% |
| QXO Qxo Inc. | 1.13% | 107,360 | $2.1M | Add +37.0% |
| NEE Nextera Energy Inc. | 1.08% | 24,583 | $2.0M | No change |
| GOOG Alphabet Inc. Class C | 1.07% | 6,255 | $2.0M | Reduce -14.4% |
| XLF SS Financial Select Sector | 1.03% | 34,447 | $1.9M | Add +0.9% |
| XLE SS Energy Select Sector | 1.02% | 41,760 | $1.9M | Add +16.7% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 1.00% | 16,000 | $1.8M | Reduce -8.7% |
| AMD Advanced Micro Devices | 0.96% | 7,160 | $1.7M | Reduce -37.0% |
| SNOW Snowflake Inc. | 0.94% | 7,840 | $1.7M | Reduce -15.2% |
| META Meta Platforms Inc. Class A | 0.93% | 2,579 | $1.7M | Add +2.2% |
| FTAI Ftai Aviation Ltd. | 0.92% | 8,500 | $1.7M | No change |
| F Ford Motor Co. filed as FORD MTR CO | 0.89% | 124,506 | $1.6M | Reduce -1.0% |
| NKE Nike Inc. Class B | 0.89% | 25,531 | $1.6M | Add +69.3% |
| PFE Pfizer Inc. | 0.89% | 64,945 | $1.6M | Reduce -2.3% |
| VFH Vanguard Financials ETF | 0.87% | 11,855 | $1.6M | Reduce -0.3% |
| VRT Vertiv Holdings Co. Class A | 0.85% | 9,600 | $1.6M | Reduce -17.9% |
| MRK Merck & Co. Inc. | 0.85% | 14,674 | $1.5M | Add +0.4% |
| KNF Knife River Corp. | 0.84% | 21,867 | $1.5M | Add +0.0% |
| WMT Walmart Inc. | 0.81% | 13,285 | $1.5M | Add +10.9% |
| ONT Onterris Inc. filed as MONTROSE ENVIRONMENTAL GROUP | 0.79% | 58,400 | $1.5M | Reduce -5.7% |
| GEHC GE Healthcare Technology | 0.77% | 17,182 | $1.4M | Add +21.8% |
| XLC SS Comm Select Sector SPDR | 0.76% | 11,775 | $1.4M | Reduce -0.8% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.75% | 32,110 | $1.4M | Add +12.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.75% | 3,198 | $1.4M | No change |
| ECG Everus Construction Group | 0.75% | 15,917 | $1.4M | Reduce -0.7% |
| MDU Mdu Resources Group Inc. | 0.74% | 68,924 | $1.3M | Reduce -2.5% |
| UNH Unitedhealth Group Inc. | 0.72% | 3,958 | $1.3M | Reduce -10.2% |
| CLF Cleveland-Cliffs Inc. | 0.71% | 98,150 | $1.3M | Reduce -24.6% |
| GBCI Glacier Bancorp Inc. | 0.71% | 29,298 | $1.3M | Reduce -3.6% |
| ORCL Oracle Corp. | 0.70% | 6,574 | $1.3M | New |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.69% | 1,847 | $1.3M | Reduce -0.4% |
| NFLX Netflix Inc. | 0.65% | 12,660 | $1.2M | Add +87.6% |
| WFC Wells Fargo & Co. | 0.65% | 12,727 | $1.2M | Add +0.0% |
| XLV SS Health Care Select Sector | 0.62% | 7,340 | $1.1M | Add +13.5% |
| INTC Intel Corp. | 0.61% | 30,305 | $1.1M | Reduce -14.7% |
| DELL Dell Technologies -C | 0.59% | 8,590 | $1.1M | Reduce -36.5% |
| BX Blackstone Inc. | 0.59% | 7,000 | $1.1M | No change |
| ISRG Intuitive Surgical Inc. | 0.59% | 1,905 | $1.1M | Add +82.3% |
| KRE SS SPDR S&P Regional Bank | 0.55% | 15,550 | $1.0M | Add +55.3% |
| SBUX Starbucks Corp. | 0.55% | 11,928 | $1.0M | Add +137.3% |
| CPK Chesapeake Utilities Corp. | 0.55% | 8,000 | $998K | No change |
| GS Goldman Sachs Group Inc. | 0.54% | 1,130 | $993K | Reduce -2.2% |
| HD Home Depot Inc. | 0.54% | 2,880 | $991K | Add +2.3% |
| ARTY iShares Future AI & Tech ETF | 0.52% | 19,795 | $954K | Reduce -6.4% |
| PSX Phillips 66 | 0.50% | 7,078 | $913K | Add +2.9% |
| IBB iShares Biotechnology ETF | 0.50% | 5,375 | $907K | Reduce -0.9% |
| UBER Uber Technologies Inc. | 0.49% | 10,976 | $897K | New |
| CRWD CrowdStrike Holdings Inc. Class A | 0.48% | 1,873 | $878K | Add +12.6% |
| BA The Boeing Co. | 0.48% | 4,035 | $876K | No change |
| FDX FedEx Corp. | 0.47% | 3,000 | $867K | No change |
| BMY Bristol-Myers Squibb Co. | 0.45% | 15,350 | $828K | Reduce -47.3% |
| CVX Chevron Corp. | 0.45% | 5,420 | $826K | No change |
| NEM Newmont Corp. | 0.42% | 7,600 | $759K | Reduce -22.4% |
| PEP Pepsico Inc. | 0.41% | 5,280 | $758K | Reduce -0.2% |
| JNJ Johnson & Johnson | 0.41% | 3,649 | $755K | No change |
| BYRN Byrna Technologies Inc. | 0.41% | 44,600 | $749K | Add +17.7% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.40% | 13,378 | $736K | Reduce -1.5% |
| DFAS Dimensional US Small Cap ETF | 0.39% | 10,130 | $706K | Add +7.6% |
| TXN Texas Instruments Inc. | 0.38% | 4,000 | $694K | No change |
| C Citigroup Inc. | 0.38% | 5,911 | $690K | No change |
| MCD McDonald's Corp. | 0.37% | 2,188 | $669K | No change |
| PG The Procter & Gamble Co. | 0.36% | 4,573 | $655K | Reduce -0.1% |
| RDDT Reddit Inc. Class A | 0.36% | 2,850 | $655K | New |
| PANW Palo Alto Networks Inc. | 0.36% | 3,550 | $654K | No change |
| HON Honeywell International Inc. | 0.34% | 3,188 | $622K | Reduce -29.0% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.34% | 1,260 | $615K | Reduce -2.7% |
| KO The Coca-Cola Co. | 0.33% | 8,519 | $596K | Add +0.0% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.32% | 3,088 | $590K | No change |
| MMM 3M Co. | 0.32% | 3,650 | $584K | Add +0.0% |
| MO Altria Group Inc. | 0.31% | 9,914 | $572K | Reduce -1.5% |
| VNQ Vanguard Real Estate ETF | 0.31% | 6,390 | $565K | Add +18.6% |
| VLO Valero Energy Corp. | 0.31% | 3,434 | $559K | Reduce -0.5% |
| DFUS Dimensional US Eq MKT ETF | 0.28% | 7,015 | $520K | No change |
| COP Conocophillips | 0.28% | 5,517 | $516K | No change |
| XLI SS Industrial Select Sector | 0.28% | 3,315 | $514K | Add +0.8% |
| CMI Cummins Inc. | 0.28% | 1,000 | $510K | No change |
| WTW Willis Towers Watson PLC | 0.27% | 1,510 | $496K | No change |
| CALM Cal-Maine Foods Inc. | 0.27% | 6,200 | $493K | Add +55.0% |
| TGT Target Corp. | 0.25% | 4,761 | $465K | Reduce -8.6% |
| MU Micron Technology Inc. | 0.25% | 1,625 | $464K | No change |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.25% | 1,590 | $461K | No change |
| SO The Southern Co. | 0.25% | 5,160 | $450K | No change |
Portfolio Sells Q3 2025 → Q4 2025
| DELL Dell Technologies -C | Reduce -36.5% | 0.59% | −0.51 |
| WPM Wheaton Precious Metals Corp. | Sold out | 0.00% | −0.32 |
| BMY Bristol-Myers Squibb Co. | Reduce -47.3% | 0.45% | −0.30 |
| GE General Electric | Reduce -6.9% | 2.72% | −0.26 |
| SNOW Snowflake Inc. | Reduce -15.2% | 0.94% | −0.25 |
| NVDA Nvidia Corp. | Reduce -0.4% | 4.89% | −0.25 |
| BABA Alibaba Group Holding-SP ADR | Sold out | 0.00% | −0.23 |
| HON Honeywell International Inc. | Reduce -29.0% | 0.34% | −0.20 |
| CLF Cleveland-Cliffs Inc. | Reduce -24.6% | 0.71% | −0.20 |
| ONT Onterris Inc. | Reduce -5.7% | 0.79% | −0.18 |
| FNV Franco-Nevada Corp. | Sold out | 0.00% | −0.18 |
| VRT Vertiv Holdings Co. Class A | Reduce -17.9% | 0.85% | −0.16 |
| VZ Verizon Communications Inc. | Reduce -0.6% | 1.17% | −0.16 |
| UNH Unitedhealth Group Inc. | Reduce -10.2% | 0.72% | −0.16 |
| DIS The Walt Disney Co. | Reduce -8.7% | 1.00% | −0.15 |
| GBCI Glacier Bancorp Inc. | Reduce -3.6% | 0.71% | −0.14 |
| NOW ServiceNow Inc. | Reduce -39.6% | 0.13% | −0.14 |
| TEM Tempus AI Inc. Class A | Sold out | 0.00% | −0.13 |
| ARM Arm Holdings PLC-ADR | Reduce -33.3% | 0.12% | −0.12 |
| AMGN Amgen Inc. | Sold out | 0.00% | −0.12 |
| IBM Intl Business Machines Corp. | Reduce -6.5% | 1.82% | −0.12 |
| FWONA Liberty Media Corp. Class A | Sold out | 0.00% | −0.12 |
| UPS United Parcel Service Class B | Reduce -19.3% | 1.22% | −0.11 |
| AMD Advanced Micro Devices | Reduce -37.0% | 0.96% | −0.10 |
| OGN Organon & Co. | Sold out | 0.00% | −0.09 |
| PFE Pfizer Inc. | Reduce -2.3% | 0.89% | −0.08 |
| INTC Intel Corp. | Reduce -14.7% | 0.61% | −0.07 |
| MO Altria Group Inc. | Reduce -1.5% | 0.31% | −0.07 |
| GIS General Mills Inc. | Reduce -19.6% | 0.16% | −0.06 |
| KHC The Kraft Heinz Co. | Reduce -21.3% | 0.15% | −0.06 |
| GEV GE Vernova Inc. | Reduce -2.4% | 1.76% | −0.06 |
| MP MP Materials Corp. | Reduce -1.8% | 0.15% | −0.06 |
| NEM Newmont Corp. | Reduce -22.4% | 0.42% | −0.06 |
| XLK SS Technology Select Sector | Reduce -0.6% | 1.85% | −0.05 |
| PLTR Palantir Technologies Inc. Class A | Reduce -16.1% | 0.17% | −0.05 |
| XLC SS Comm Select Sector SPDR | Reduce -0.8% | 0.76% | −0.05 |
| PG The Procter & Gamble Co. | Reduce -0.1% | 0.36% | −0.04 |
| ECG Everus Construction Group | Reduce -0.7% | 0.75% | −0.04 |
| AMZN Amazon.com Inc. | Reduce -1.9% | 2.72% | −0.04 |
| MDLZ Mondelez International Inc. Class A | Reduce -1.3% | 0.15% | −0.04 |
| ARTY iShares Future AI & Tech ETF | Reduce -6.4% | 0.52% | −0.03 |
| VLO Valero Energy Corp. | Reduce -0.5% | 0.31% | −0.03 |
| VFH Vanguard Financials ETF | Reduce -0.3% | 0.87% | −0.03 |
| DUK Duke Energy Corp. | Reduce -1.2% | 0.21% | −0.02 |
| XOP SS SPDR S&P Og Exp & Prod | Reduce -1.3% | 0.18% | −0.02 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -2.7% | 0.34% | −0.02 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -0.4% | 0.69% | −0.02 |
| TGT Target Corp. | Reduce -8.6% | 0.25% | −0.01 |
| PEP Pepsico Inc. | Reduce -0.2% | 0.41% | −0.01 |
| PTCT PTC Therapeutics Inc. | Reduce -19.2% | 0.17% | −0.01 |
Portfolio Buys Q3 2025 → Q4 2025
| ORCL Oracle Corp. | New | 0.70% | +0.70 |
| UBER Uber Technologies Inc. | New | 0.49% | +0.49 |
| RDDT Reddit Inc. Class A | New | 0.36% | +0.36 |
| ISRG Intuitive Surgical Inc. | Add +82.3% | 0.59% | +0.32 |
| SBUX Starbucks Corp. | Add +137.3% | 0.55% | +0.31 |
| NKE Nike Inc. Class B | Add +69.3% | 0.89% | +0.29 |
| QXO Qxo Inc. | Add +37.0% | 1.13% | +0.28 |
| KRE SS SPDR S&P Regional Bank | Add +55.3% | 0.55% | +0.19 |
| NFLX Netflix Inc. | Add +87.6% | 0.65% | +0.19 |
| Q Qnity Electronics Inc. | New | 0.18% | +0.18 |
| LULU Lululemon Athletica Inc. | New | 0.17% | +0.17 |
| GEHC GE Healthcare Technology | Add +21.8% | 0.77% | +0.17 |
| COST Costco Wholesale Corp. | Add +25.3% | 1.55% | +0.16 |
| MSI Motorola Solutions Inc. | New | 0.15% | +0.15 |
| GM General Motors Co. | New | 0.14% | +0.14 |
| MRK Merck & Co. Inc. | Add +0.4% | 0.85% | +0.14 |
| IREN Iren Ltd. | New | 0.14% | +0.14 |
| VRTX Vertex Pharmaceuticals Inc. | New | 0.13% | +0.13 |
| CPRX Catalyst Pharmaceuticals Inc. | New | 0.13% | +0.13 |
| IFRA iShares US Infrastructure | New | 0.12% | +0.12 |
| HXL Hexcel Corp. | New | 0.12% | +0.12 |
| SLB SLB Ltd. | New | 0.12% | +0.12 |
| XLV SS Health Care Select Sector | Add +13.5% | 0.62% | +0.11 |
| XLE SS Energy Select Sector | Add +16.7% | 1.02% | +0.11 |
| WMT Walmart Inc. | Add +10.9% | 0.81% | +0.10 |
| BIIB Biogen Inc. | New | 0.10% | +0.10 |
| LUV Southwest Airlines Co. | Add +12.5% | 0.20% | +0.06 |
| CALM Cal-Maine Foods Inc. | Add +55.0% | 0.27% | +0.05 |
| WFC Wells Fargo & Co. | Add +0.0% | 0.65% | +0.04 |
| XOM Exxon Mobil Corp. | Add +0.5% | 1.43% | +0.04 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Add +12.1% | 0.75% | +0.04 |
| WIT Wipro Ltd.-ADR | New | 0.03% | +0.03 |
| HAL Halliburton Co. | Add +9.4% | 0.18% | +0.03 |
| VNQ Vanguard Real Estate ETF | Add +18.6% | 0.31% | +0.03 |
| DFAS Dimensional US Small Cap ETF | Add +7.6% | 0.39% | +0.02 |
| NFGC New Found Gold Corp. | New | 0.02% | +0.02 |
| CRM Salesforce Inc. | Add +5.9% | 0.13% | +0.02 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +12.6% | 0.48% | +0.01 |
| IWO iShares Russell 2000 Growth | Add +11.1% | 0.18% | +0.01 |
| KO The Coca-Cola Co. | Add +0.0% | 0.33% | +0.00 |
| CVS CVS Health Corp. | Add +0.0% | 0.20% | +0.00 |
| MA Mastercard Inc. Class A | Add +4.9% | 0.13% | +0.00 |
| V Visa Inc. Class A | Add +0.1% | 0.20% | −0.00 |
| MMM 3M Co. | Add +0.0% | 0.32% | −0.00 |
| COIN Coinbase Global Inc. Class A | Add +51.5% | 0.22% | −0.01 |
| XLI SS Industrial Select Sector | Add +0.8% | 0.28% | −0.01 |
| XLF SS Financial Select Sector | Add +0.9% | 1.03% | −0.02 |
| PSX Phillips 66 | Add +2.9% | 0.50% | −0.04 |
| BYRN Byrna Technologies Inc. | Add +17.7% | 0.41% | −0.07 |
| HD Home Depot Inc. | Add +2.3% | 0.54% | −0.11 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 173 | $214.0M | AAPL, NVDA, GEV, GE, AMZN |
| Q1 2026 | 159 | $181.7M | AAPL, NVDA, AMZN, GE, MSFT |
| Q4 2025 | 154 | $182.7M | AAPL, NVDA, MSFT, LLY, AMZN |
| Q3 2025 | 145 | $174.7M | AAPL, NVDA, MSFT, GE, AMZN |
| Q2 2025 | 147 | $159.6M | AAPL, NVDA, MSFT, AMZN, GE |
| Q1 2025 | 137 | $138.2M | AAPL, NVDA, AMZN, MSFT, LLY |
| Q4 2024 | 131 | $141.0M | AAPL, NVDA, AMZN, MSFT, LLY |
| Q3 2024 | 135 | $144.3M | AAPL, NVDA, MSFT, LLY, AMZN |
| Q2 2024Amended | 136 | $137.9M | AAPL, NVDA, LLY, MSFT, AMZN |
| Q1 2024Amended | 138 | $136.3M | AAPL, MSFT, LLY, AMZN, NVDA |